VZAS: Veterinary Institute reports poor performances for 1H 2016

Subotica based animal feed and medicine producer, Veterinary Institute (VZAS), reported poor performance in 1H 2016, mainly due to unstable market conditions and uncertainties with payments from customers.

Drop in cattle stocks and reduced liquidity of farmers forced the company to stick to less risky buyers – as a result the company’s sales were down 25.2% y/y to RSD 878.9m, while operating loss expanded 55.5% y/y to RSD 127.2m. Net loss was also increased to RSD 179.2m vs. RSD 118.8m from 1H 2015. The company plans to sign a deal, on feed providing, with foreign client who has a farm of pigs in Serbia, as well as to expand more on Macedonian market. In addition, the company’s animal vaccine ’’Poliovin’’ is expected to be approved in Turkey by the end of the year.

Source: Wisebroker

VETZAVOD AD SUBOTICA

Veterinary Institute Subotica

animal feed production

animal vaccine production

Poliovin vaccine